Greece Investigates Shale Gas

The Ministry for the Environment, Energy and Climate Change announced a special preparatory research project to be awarded to the Greek state-owned Institute for Geology and Mineral Exploration (IGME), in order to explore potential shale gas reserves in the territory. More specifically, the Deputy Minister Ioannis Maniatis revealed in a press conference that after a series of preliminary examinations by a scientific committee on the issue, the decision was taken based on similar initiatives by other European countries.

Moreover, the Greek Ministry released a report examining best practices in other countries and concluding that the present day technology can be of use regarding the potential Greek reserves. Special note was highlighted in the examples of Poland, France and Bulgaria. Moreover it was made known that in the near future Greece may join the Shale Gas Resource initiative.

Furthermore Maniatis noted to the press "The research regarding shale gas is an integral part of the national strategy for energy that focuses on the use of gas either of a conventional or unconventional nature". Moreover he added that " The prospects for shale gas worldwide are impressive, since in the year 2000 just 1% of the global production of natural gas came from that source, whilst nowadays that figure has multiplied, and for that reason and for the purpose of Greek energy security the Ministry will proceed if adequate reserves exist in Greece, keeping in mind the present optimistic data".

IGME, responsible for state-directed geological research in the country and the outlook for the shale gas, will survey for a three-month period beginning in early 2012, before any initial findings are announced.  Further, it is possible that the research will be funded by EU structural capital and will also involve the cooperation its Bulgarian counterparts who are already researching in their own country.